Life at Collins Barrow is rewarding on so many different levels both professionally and personally: competitive compensation, a recognized work life balance and the ability to contribute with your firm to the community. Where you start your career is one of the most important decisions you will ever make.

Known for our responsiveness and aggressively entrepreneurial culture, we are the eighth largest public accounting network nationally by revenue. Our over 1340 professional and support staff and more than 235 partners and principals provide a full range of audit, tax and advisory services to private and public companies through our regional offices from coast to coast.

On October 16, 2017, the Department of Finance (“Finance”) released changes (“announcement”) to the tax proposals previously announced in July 2017 (see CBT's summary here). Today’s updates focused on the lifetime capital gains exemption and income sprinkling.

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Every business requires a sound strategy and financial plan. Whether you’re just starting up or need insight into succession planning, check out these accounting and tax tips to help navigate the road ahead.

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Farmers and farm corporations in supply management sectors buy and sell quota regularly. While operational and financial considerations rightly drive these transactions, they are sometimes completed without considering the tax implications. Consequently, these transactions can lead to unexpected income tax results.

Canada has more than 170,000 charitable and not-for-profit organizations, 85,000 of which are registered with the Canada Revenue Agency (CRA). For these registered charities, their supply of property and services is often exempt from GST/HST. Charities that also make taxable supplies of property and services are required to collect GST/HST on those supplies where they are GST/HST registrants (i.e. not small suppliers or small suppliers that have chosen to voluntarily register for GST/HST purposes).

U.S. persons (U.S. citizens or green card holders) living in Canada or abroad who have investments outside the U.S. should be aware of the potentially onerous tax filing requirements imposed by the IRS, and how those rules will apply to their investments. IRS rules can be particularly complex when investments in foreign companies or funds earning passive income are involved.

This article expands upon the discussion in the companion piece, “U.S. tax pain: Canadian mutual funds and ETFs,” in this U.S. Tax Alert. This article digs deeper into the intricacies of the definitions and the filing requirements for PFICs and CFCs.

On September 27, 2017 the Republican Party released their long anticipated proposal for U.S. tax reform. The key takeaways of the framework have been summarized below. Please contact your local Collins Barrow U.S. tax advisory professional if you have any questions and to find out how these proposals may impact you and your U.S. or cross-border business.

In its Consultation Paper and draft legislation released July 18, 2017, the Department of Finance proposes to restrict the lifetime capital gains exemption (LCGE). The Department of Finance indicates that the current tax rules do not properly prevent the multiplication of the LCGE. In many cases, the exemption of each individual family member is used to shelter gains on a family business.

The federal government is proposing changes that will significantly affect the taxation of private corporations and their shareholders. Learn more about this critical issue below and sign up to stay connected on the latest updates.

Windsor, ON – Collins Barrow Windsor LLP is pleased to announce that Anthony Campagna is joining the firm as an assurance and advisory partner. Tony graduated from the University of Windsor in 1977 with a B.Comm, received his CA in 1982 and operated his own practice for six years before joining a local accounting firm in 1992. In the subsequent 25 years, he has developed a valuable base of knowledge and expertise.

From an investment perspective, mutual funds and exchange-traded funds (ETFs) make sense for many Canadians. They allow them to reduce investment risk by diversifying their holdings through exposure to multiple industries and sectors of the economy, without the need to hold many individual stocks and bonds.